Re: What Is A Boat Really Worth?
Why is it such a shock that an owner would place a higher value on his boat than a potential buyer? The average of all negotiations will ultimately determine the “market value”, not some listing or book. Financial institutions do not determine market value. They do a risk analysis and the security needs to be low enough that they can recover all their costs in a repro/sale. Also, use the “blue book” and “comps” as a guide, not a bible. Unlike autos, there is way too much variation (condition/features) in a given boat model and numbers sold are not statistically significant. Besides, why would an owner low ball his asking price knowing full well that there may be a reduction resulting from a negotiation? I have never heard of a boat owner who has placed an advertisement but did not (seriously) want to sell. They do what I do, look at the listings and compare those boats to theirs. They talk to brokers just like you.
You have kicked a lot of tires out there, you are trending the asking prices as well as the settling prices. You have your spreadsheet. You know the market as well as anyone. Find a boat you like and put an offer on it for what it is worth to you and negotiate from there. You are getting a little hung up on your own “ego”. You want the perfect boat and at a below market price so you can feel good about besting someone. If you see a price that you think is way above “market value” and you don’t want to make an offer – wait the guy out an make another offer on the boat a year later. I do not know why a seller wouldn’t be “upfront” with you? Are you really want him to begin negotiating with you before you have even seen the boat? How does he know that you are serious? You could be just exercising him to give yourself leverage on another negotiation.
2000 Catalina 34 MkII